MEA Compound Chocolate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Compound Chocolate Market Analysis
The Middle-East and Africa Compound Chocolate Market is projected to register a CAGR of 8.2 % during the forecast period, 2022-2027.
There is a high demand for compound chocolate in the Middle East and Africa region which can be attributed to the increasing demand for chocolate-coated dry fruits, confectionary, and bakery products. This demand was further augmented over the past few years as a result of the COVID-19 pandemic which led consumers across the region to quarantine at home; this factor led to the increased consumption of chocolates and chocolate products as a snack or indulgence.
Compound chocolate is widely used in molding applications for making different confectionery and bakery products, driving the demand for high-quality chocolate coatings in the region. Moreover, the consumers in the Middle East prefer to gift high-quality boxed chocolates, on different occasions as per their traditional rituals and this has boosted the sales of compound chocolate in the Middle East.
Additionally, Middle Eastern countries have been witnessing innovations in traditional sweets and desserts such as kunafa, chocolate jallab bites, chocolate biscuit puddings, chocolate-stuffed dates, and chocolate chip cakes, among other products, which make use of compound chocolate. Further, few companies offering innovative products like ganache, chocolate syrup, chocolate candies, etc. efficiently manufacture their products with the use of compound chocolate owing to its consistency. Thus, the compound chocolate market has been fostering huge growth in the region over the review period, and is further expected to gain momentum during the forecast period.
MEA Compound Chocolate Market Trends
This section covers the major market trends shaping the MEA Compound Chocolate Market according to our research experts:
High Preference of Chocolate-based Products Accelerates the Growth
Chocolate-infused snack products such as granola bars, and chocolate chip cookies, among others. These products have been enticing the millennials of the region, owing to which the demand for compound chocolate is high. Furthermore, the demand for compound chocolate has been growing as it consists of hard fat which makes it suitable for baking products at higher temperatures. The growth of the market can also be attributed to the rising consumption of frozen desserts and growing consumer expenditure on frozen desserts such as ice cream and on chocolate-based beverages, such as chocolate milkshakes, among others. The trend of veganism and plant-based food and beverage products has boosted the sales of plant-based milk compound chocolate. The survey conducted by the well-known confectionary producer Barry Callebaut depicts that in 2022, 45% of people prefer having plant-based milk chocolates owing to their dairy-free features in addition to their smooth texture and taste.
United Arab Emirates is the Largest Market
The surging demand for chocolate-filled assorted sweets and increased consumption of count-line chocolates among the consumers in the country have helped drive the growth of the market over the review period. The increased awareness of fitness and a large number of fitness centers in the nation promoting the consumption of protein milkshakes, and chocolate-flavored protein bars, have helped drive the demand for these products among gym professionals and other fitness experts. Such factors have helped augment the growth of the compound chocolate market over the recent past. Additionally, the tradition of gifting sweets and chocolates on occasions such as Ramadan, Eid, and other festivities has helped drive the sales of chocolate and related products over the past few years, a factor which has thereby helped drive the growth of the market in the region over the past few years.
MEA Compound Chocolate Industry Overview
The Middle-East and Africa Compound Chocolate Market is highly competitive owing to the presence of several regional and international players offering a wide array of compound chocolate products. The key players in the market have been coming up with a variety of new products and have been focused on trying to maintain their leadership position in the market studied. The major players operating the compound chocolate market are Puratos, Ferrero International SA, Meiji Holdings Co. Ltd, Mondelez International, and Mars Incorporated, among others. These players have been concentrating on different marketing strategies to improve their sales growth by penetrating the regional market through online and offline distribution channels. Further, various companies have been indulging in new product innovation and expanding their business operations by venturing into well-known brands or acquisitions with other giant companies.
MEA Compound Chocolate Market Leaders
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Puratos
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Ferrero International SA
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Barry Callebaut
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Kerry Group
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Cargill, Incorporated
*Disclaimer: Major Players sorted in no particular order
MEA Compound Chocolate Market News
- In May 2022, Blommer Chocolate Co. announced a partnership with Israel-based company DouxMatok for inaugurating chocolate coatings with Incredo sugar, along with its range of food applications, enrobing, panning, and molding.
- In November 2021, Barry Callebaut declared the launch of the dairy-free chocolate compound product portfolio, which is 100% plant-based. The products under this portfolio include Compound Soft Shaped Chunks, Compound Chip/Chunk, Compound Soft Chunk, dairy-free EZ melt compound, and Bulk Liquid for different applications.
MEA Compound Chocolate Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Flavor
5.1.1 Milk
5.1.2 White
5.1.3 Dark
5.2 Form
5.2.1 Chocolate Chips/Drops/Chunks
5.2.2 Chocolate Slab
5.2.3 Chocolate Coatings
5.3 Application
5.3.1 Bakery
5.3.2 Confectionery
5.3.3 Frozen Desserts and Ice Cream
5.3.4 Beverages
5.3.5 Cereals
5.3.6 Other Applications
5.4 Geography
5.4.1 Middle East & Africa
5.4.1.1 United Arab Emirates
5.4.1.2 Saudi Arabia
5.4.1.3 South Africa
5.4.1.4 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Puratos
6.3.2 Ferrero International SA
6.3.3 Kerry Group
6.3.4 Barry Callebaut
6.3.5 Mars Incorporated
6.3.6 IFFCO Group
6.3.7 Cargill, Incorporated
6.3.8 Cocoa Processing Company Limited
6.3.9 Kees Beyers Chocolate CC
6.3.10 Tiger Brands Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
MEA Compound Chocolate Industry Segmentation
Compound chocolate is a combination of vegetable fat, cocoa, and sweeteners. It is used as a low-cost alternative to coverture chocolate. There are three types of compound chocolates milk, dark and white which are being used by various industries for making end products. The Middle-East and Africa Compound Chocolate Market (henceforth referred to as the market studied) is segmented by Flavor, Form, Application, and Geography. By Flavor, the market is segmented into Milk, Dark, and White. By Form, the market is segmented into Chocolate Chips/Drops/Chunks, Chocolate Slabs, and Chocolate Coatings. By Application the market is segmented into Bakery, Confectionery, Frozen Desserts and Ice-cream, Beverages, Cereals, and Other applications. The study provides an analysis of emerging and established economies across the Middle East and Africa region, comprising Saudi Arabia, the United Arab Emirates, South Africa, and the rest of the Middle East and Africa. The report offers market size and forecasts in value (USD million) for the above segments.
| Flavor | |
| Milk | |
| White | |
| Dark |
| Form | |
| Chocolate Chips/Drops/Chunks | |
| Chocolate Slab | |
| Chocolate Coatings |
| Application | |
| Bakery | |
| Confectionery | |
| Frozen Desserts and Ice Cream | |
| Beverages | |
| Cereals | |
| Other Applications |
| Geography | ||||||
|
MEA Compound Chocolate Market Research FAQs
What is the current Middle-East and Africa Compound Chocolate Market size?
The Middle-East and Africa Compound Chocolate Market is projected to register a CAGR of 8.20% during the forecast period (2024-2029)
Who are the key players in Middle-East and Africa Compound Chocolate Market?
Puratos, Ferrero International SA, Barry Callebaut, Kerry Group and Cargill, Incorporated are the major companies operating in the Middle-East and Africa Compound Chocolate Market.
What years does this Middle-East and Africa Compound Chocolate Market cover?
The report covers the Middle-East and Africa Compound Chocolate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle-East and Africa Compound Chocolate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle-East and Africa Compound Chocolate Industry Report
Statistics for the 2024 Middle-East and Africa Compound Chocolate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle-East and Africa Compound Chocolate analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
